Mortgage Information

lyricsborn808 asked:


I was legally separated in July, 2009 and my wife got the house. We made mortgage payments together up to our separation date (6 months). She made the mortgage payments for the remainder of the year. Can I claim half of the mortgage interest on my taxes?
I’m filing single.

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iDream asked:


I know that a 30 year mortgage makes the monthly payments less which is more affordable but you end up paying more in interest. I’m planning to buy a house but not until years from now. I just like to be aware so that I know what I’m working for. I want to save and know what to expect. What about paying more on the mortgage payment, in that case is it best to get a 10, 15, 25 year mortgage or 30 year? It’s confusing to me.

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Lily56 asked:


I’ve heard that all mortgage companies do not handle this loan. Other than calling all the companies in the phone book, is there a way to find out who does? Is there a listing somewhere?

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Plastic B asked:


If you get a mortgage for 20 years can you pay it only for 5 years, for example, sell the house after the 5th year and get back what you paid?
alterfemego - basically, say I buy a house on a 20 year mortgage for £200,000. I pay £900 a month for 5 years then decide to sell it. If the house goes for £201,000, would I have to pay off the entire amount to the mortgage company or do I have to pay the amount that I have not paid yet in the remaining 15 years?

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Coco-bunny asked:


I’m in the market for a house and read about mortgage insurance. Is it good to have and what the difference between that and homeowner’s insurance?

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John asked:


I am planning on refinancing my car loan but I think my current mortgage payment will affect the banks decision. So my question is, when they ask what my mortgage is, should I include escrow or just principal and interest?

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April asked:


Our mortgage lender has filed for bankruptcy. Our payments to the mortgage company include principle, interest, taxes and insurance (PITI). What happens to the money we have paid towards taxes and insurance ?? Since we have paid this money in advance with our payment, is the bankrupt mortgage lender required by law to pay them? If they don’t, due to bankruptcy protection, are we responsible to pay the money that has already been received by the mortgage lender?? In other words, lets say we have made payments totaling $10,000 over the last 10 months, $2500 of which is taxes and insurance. If the mortgage lender does not pay the $2500 to the insurance company and to the IRS, do we have to come up with the $2500 to pay what the mortgage lender did not ??
Our mortgage lender has filed for bankruptcy. Our payments to the mortgage company include principle, interest, taxes and insurance (PITI). What happens to the money we have paid towards taxes and insurance ?? Since we have paid this money in advance with our payment, is the bankrupt mortgage lender required by law to pay them? If they don’t, due to bankruptcy protection, are we responsible to pay the money that has already been received by the mortgage lender?? In other words, lets say we have made payments totaling $10,000 over the last 10 months, $2500 of which is taxes and insurance. If the mortgage lender does not pay the $2500 to the insurance company and for property taxes, do we have to come up with the $2500 to pay what the mortgage lender did not ??

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grkra3 asked:


What is the easiest mortgage company to get a loan modification through? Easiest mortgage company? I would like to know!

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Cold asked:


I’ve seen a couple of people state this.
That they have a mortgage through a servicing company.
They can not refinance is one complaint.
And it does not get reported to the credit bureaus.

Any info on what it is will be nice - I’m clueless.

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A A asked:


I am looking at townhouses and condos. Wondering what the rough cost per month would be for a mortgage for a place that costs 100K with a credit score of 715?

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